What do weight lifting and weight lifting supplements have to do with procurement? A lot, according to Jason Busch, Spend Matters founder and head of strategy, and Richard Lee, CFO. So much, actually, that the two teamed up to pen a six-part series on the topic over the holiday season.
“It turns out old school weight supplements like Ultimate Orange are a lot like many of the shortcuts that procurement organizations use to ‘juice’ their results,” Jason and Richard wrote in Part 1 of the series. Ultimate Orange is a short-term fix, and in the procurement world, it is the “reverse auction” tool.
“Reverse auctions, as a procurement tool, can truly juice performance in the near-term and might actually be appropriate in certain cases,” Jason and Richard wrote in Part 2 of the series. “But they’re overused and can give an organization the equivalent of a P&L heart attack if forecast savings don’t actually materialize after it becomes clear that the top-three bids in a given event or lot will be costly or impossible to implement (and the incumbent supplier did not budge).”
We wanted take a second to highlight this series in case you missed it on the site late last year during Christmas and New Years. Jason and Richard not only focus on Ultimate Orange, but take a look at other weight lifting supplements, what they are supposed to do and how they are similar to techniques procurement teams and supply chain managers use to “juice their results.”
Check out all six parts below!